Via files for IPO, reports revenue growth and narrowing losses
Israeli transit-tech firm eyes Wall Street listing after hitting $338 million revenue in 2024 and cutting losses by over 20%.
The Israeli company Via, which has developed a digital platform for planning and operating public transportation services, filed a prospectus with the U.S. Securities and Exchange Commission on Friday ahead of its planned IPO in New York. The company has not yet set a share price or valuation for the offering. Via was last valued at $3.5 billion in a 2023 fundraising round led by venture capital fund 83North.
According to the filing, Via’s revenue in 2024 reached $337.6 million, up 36% from 2023. In the first half of 2025, revenue amounted to $205.8 million, while the company reported cash reserves of approximately $78 million.
The company has shown notable improvement in its financial performance. The net loss margin narrowed from 58% in March 2023 to 20% in June 2025, while the adjusted EBITDA margin improved from -43% to -8% over the same period. Annual losses were reduced from $117.0 million in 2023 to $90.6 million in 2024, and in the first half of 2025, the net loss was $37.5 million.
Among Via’s major shareholders are: Daniel Ramot, co-founder and CEO, holding approximately 6.2 million shares; Arnon Dinur, partner at 83North, with around 760,000 shares; Pitango, with 5.5 million shares; and 83North, with about 14 million shares.
In the prospectus, Via described its platform as an end-to-end solution for public transportation, offering planning and scheduling tools, operational software, related services, passenger applications, and data analysis. According to the filing, “Our tools enable cities to design smarter networks, manage diverse operations, and deliver advanced passenger applications.”
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The company cited client success stories, such as Denton County Transportation Authority in Texas, which increased monthly ridership fivefold without additional budget, and GoRaleigh in North Carolina, which cut driver overtime by 50%.
Via emphasized the vast potential of its market, noting that by the end of Q2 2025 it had 689 customers in more than 30 countries, representing only about 1% of its target market in North America and Western Europe, estimated at 63,000 potential customers. More than 90% of Via’s revenue currently comes from government clients.
